Hi there
I went to a display at Teneriffe (Brisbane) on the weekend where they are selling 2 bedroom apartments off the plan for some $450K. The real estate agent said she bought something similar a while back, got a bank guarantee against the equity in her house, and sold the apartment before it settled for a profit of $100K. Apart from the obvious risk of not being able to sell the property before settlement, what are the risks of doing something like this? How does one go about advertising the apartment for re-sale when it hasn’t been built yet?
Ed
Hi Ed,
Rapid CG as described by the REA is a thing of the ‘past’ and at a different time. Don’t be seduced by the attractive return achieved by some people in the narrow window of opportunity that existed then.
While this REA ‘did do well’ there are also many others who tried to achieve the same result in other cities that are struggling.
Maybe the REA could give you a personal written guarantee that you could do the same.
Derek
[email protected]Property Investment Support Available.
Thanks Derek – that’s exactly the kind of “voice of reason” I need to hear. The proposition is very seductive – but as usual, if it sounds too good to be true, it’s probably untrue! Thanks again!
Ed
You must be logged in to reply to this topic. If you don't have an account, you can register here.
